Lake of the Woods County renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Lake of the Woods County is about $702 per month. This puts it in the 13th percentile compared to the state average cost of rent, which is $1,169. Households in Lake of the Woods County have a median income of $4,947 per month so the average renter in Lake of the Woods County is spending roughly 14% of their earnings on housing.
Nationally, and in Lake of the Woods County, home values are the data point most closely correlated with the cost of rent. The median price of a home in Lake of the Woods County is $213,610 right now, which is higher than nearby counties, meaning that rents in Lake of the Woods County also tend to be higher versus these nearby counties.
Higher rent prices are common in the northwestern parts of Lake of the Woods County while lower rent rates are often available in eastern areas.
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